Cadre (NYSE:CDRE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cadre (NYSE:CDRE) from a hold rating to a buy rating in a report issued on Saturday.

Several other equities research analysts have also weighed in on the company. Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 4th. Jefferies Financial Group set a $40.00 target price on shares of Cadre in a report on Wednesday, May 13th. Weiss Ratings downgraded shares of Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Roth Capital reiterated a “buy” rating and issued a $40.00 price target on shares of Cadre in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cadre from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.29.

Cadre Stock Performance

Shares of CDRE opened at $32.63 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.14 and a quick ratio of 1.35. Cadre has a one year low of $25.73 and a one year high of $48.76. The company has a 50-day simple moving average of $29.82 and a two-hundred day simple moving average of $33.46. The firm has a market capitalization of $1.40 billion, a PE ratio of 38.39 and a beta of 1.32.

Cadre (NYSE:CDRE) last posted its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Cadre had a return on equity of 12.02% and a net margin of 5.26%.The firm had revenue of $207.13 million for the quarter, compared to the consensus estimate of $178.29 million. On average, analysts anticipate that Cadre will post 1.47 EPS for the current fiscal year.

Cadre Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, July 31st. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. Cadre’s payout ratio is presently 47.06%.

Insider Buying and Selling

In other Cadre news, CEO Warren B. Kanders sold 50,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $27.43, for a total value of $1,371,500.00. Following the sale, the chief executive officer directly owned 9,617,039 shares of the company’s stock, valued at approximately $263,795,379.77. The trade was a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 175,000 shares of company stock valued at $5,091,500 over the last 90 days. Insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Cadre

Several large investors have recently modified their holdings of CDRE. BlackRock Inc. purchased a new stake in Cadre during the 2nd quarter valued at about $83,730,000. Jane Street Group LLC purchased a new position in Cadre in the fourth quarter worth about $22,875,000. Reinhart Partners LLC. raised its holdings in Cadre by 22.4% in the second quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company’s stock worth $78,071,000 after buying an additional 500,476 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Cadre by 46.8% in the fourth quarter. Fred Alger Management LLC now owns 623,730 shares of the company’s stock worth $25,473,000 after buying an additional 198,750 shares in the last quarter. Finally, Agman Capital LLC purchased a new stake in shares of Cadre during the fourth quarter valued at approximately $7,364,000. Hedge funds and other institutional investors own 43.95% of the company’s stock.

About Cadre

Cadre (NYSE:CDRE) is a technology?driven real estate investment platform that offers accredited and institutional investors direct access to institutional?grade commercial properties. Established in 2014, Cadre leverages a data-centric approach to identify, underwrite and manage investments in multifamily, office, retail and industrial assets across major U.S. markets. The firm’s platform is designed to streamline the investment process, from deal sourcing and due diligence to ongoing asset management and reporting.

Through its online marketplace, Cadre provides a curated selection of equity and preferred equity offerings, allowing investors to participate in individual properties or diversify across a managed portfolio.